The Nigerian Education Loan Fund has announced that it has disbursed N116.18 bn to support students and educational institutions across the country as of January 1, 2025.
NELFUND, an initiative of President Bola Tinubu, aims to reduce financial barriers in higher education by providing interest-free loans to students in need.
Speaking before the National Assembly Joint Committee on Tertiary Institutions and Tetfund in Abuja on Thursday, NELFUND Managing Director, Akintunde Sawyer, disclosed that the agency received a N58.4bn budget allocation for the 2025 fiscal year.
Sawyer revealed that out of the total disbursed amount, N37.7bn was allocated to loans for institutions of learning.
“A total of 352,796 students applied for the loan, while 108,484 were approved,” Sawyer stated.
The agency’s 2025 budget proposal includes N12.2bn for personnel costs, N24.7bn for overhead costs, and N21.4bn for capital expenditure.
The budget proposal was approved via a voice vote conducted by Senator Dandutse Muntari, Chairman of the Senate Committee on Tertiary Institutions and TETFund.
In his opening remarks, Muntari emphasised the importance of transparency and accountability in the agency’s operations.
“We will examine NELFUND’s financial plan for the upcoming fiscal year to evaluate its alignment with national educational goals and its capacity to meet the growing demands for student loans because the agency plays an indispensable role in bridging financial gaps for students across our tertiary institutions,” Muntari remarked.
The National Boundary Commission has vowed to tackle the longstanding challenges affecting border communities along Bauchi and Jigawa states.
This commitment was made by NBC Team Leader, Yusuf Jalo, when he led a field exercise team to inspect border lines connecting Jigawa, Kano, and Bauchi states.
Jalo stated, “The move aims to provide a permanent resolution by tracing existing boundary pillars and finding lasting solutions to the challenges. There is a demand for collective responsibility in the field exercise. As such, there is a need for all stakeholders to be involved in achieving the set objectives.”
On his part, the Chairman of the Bauchi State Boundary Commission and the Bauchi State Deputy Governor Auwal Jatau reaffirmed the state government’s commitment to addressing boundary disputes with Jigawa State.
Represented by the Deputy Chief of Staff Bauchi Government House, Muhammad Barde, Jatau said, “Bauchi State has implemented open-door policies to maintain cordial relationships with neighbouring states.”
He pledged to support the team in achieving its objectives, demonstrating a unified commitment to resolving boundary disputes and promoting peaceful coexistence among border communities.
